- Project name: Basic Attention Token
- Ticker symbol: BAT
- ICO date: May 2017
- Market cap*: $172 million
- Circulating supply*: 1,000,000,000 BAT
- Total supply: 1,500,000,000 BAT
* As of August 13, 2018. Source: Coinmarketcap
Basic Attention Token (BAT) is a utility token of the ERC-20 standard that uses Ethereum smart contracts to act as a unit of account amongst advertisers, publishers, and users in their blockchain-based digital advertising and open-source web browsing platform.
BAT can be used to access digital advertising services on their platform. Furthermore, Brave is a privacy-focused web browser that utilizes the BAT platform to automatically and anonymously match users of the browser with advertisements from participating publishers and advertisers.
With the BAT platform, users will receive 70% of ad revenue for user ads, and an additional 15% for publisher ads.
The diagram below shows how the BAT platform works in a nutshell:
The BAT project was founded in March 2017, but the Brave web browser was first launched in January 2016 and gained over 250,000 active monthly users just one year later.
The Brave Payments system was launched in September 2016 and had the Basic Attention Token integrated in October 2017. The launch of the BAT token sale was conducted on May 31, 2017 and raised $36 million in less than a minute.
Since then, the BAT team has been making a lot of progress with notable milestones such as reaching over 3 million monthly active users on their Brave web browser and expanding the BAT platform to both Twitch and YouTube to offer referral and donation programs for content creators and streamers.
BAT and Brave have also partnered with DuckDuckGo and Dow Jones Media Group to deliver premium content to users in a secure, private manner.
As of July 2018, the Brave browser has over 3.1 million monthly active users with over 400,000 BAT wallets. They also have more than 16,000 verified publishers including 11,000 YouTube channels.
The project is open-source and their development progress can be tracked here: https://github.com/brave.
The BAT team provides key performance indicator and technical updates on their website’s blog. Below are the key news/milestones achieved by the project.
- January 2016: Brave open-source browser launched.
- September 2016: Brave Payments introduced to the platform.
- January 2017: Brave surpassed 250,000 monthly active users.
- March 2017: BAT project announced.
- May 31, 2017: BAT token sale raised $36 million in less than 30 seconds.
- July 2017: Brave had over 500,000 monthly active users.
- August 2017: Phase one of BAT integration into the Brave browser and transition from Bitcoin wallet integration to BAT wallet.
- October 2017: BAT was integrated into the Brave Payments system.
- November 2017: Brave expanded BAT use to YouTube channels.
- January 2018: Annual update and upcoming goals for BAT and Brave.
- March 2018: Twitch streamers could earn BAT through a referral program for creators.
- May 31, 2018: Roadmap update.
- June 2018: Brave launched a user trial to reward users in BAT who opt in to advertisements on their browser.
- July 12, 2018: Brave gained over 3 million monthly active users.
- July 13, 2018: Coinbase exploring adding multiple coins, including BAT, on its platform.
- July 2018: Brave reached the top 10 “free communication app” category in 21 countries along with reaching over 3.1 million monthly active users (MAU). There were over 18,000 Brave verified publishers (over 4,500 websites and 13,500 YouTube and Twitch streamers) who were receiving monthly payments in BAT.
- July 26, 2018: Brave browser integrated MetaMask extension to provide notifications when users encounter sites that contain Decentralized Applications.
Download the Free Checklist for Crushing ICOs!
This is the guide that help me find the most promising ICOs!
BAT is one of the few tokens that actually have real world usage outside of speculation. The Brave browser does not necessary target cryptocurrency users, so the project helps the mass adoption of cryptocurrency as a whole.
We believe that BAT has a fairly high chance of listing on Coinbase. Out of the coins to be considered by Coinbase to be listed on, the market cap for BAT is by far the lowest. This means that the positive impact from listing on Coinbase is the greatest.
Despite the growing MAU number, it is not without concern. The user for Brave is still far below the major competitors.
For example, Opera has 182 million MAU on mobile and it only has 4.3% market share worldwide as of July 2018. Therefore, even if all Brave users are on mobile, its global market share is merely 0.07%.
The web traffic of Brave has peaked in around March 2018 according to Alexa, but this could be partly due to the cryptocurrency bear market.
Overall, they are doing a good job in terms of both technical and business development, but the project still has a long way to go in terms of adoption.
Kyber Network Official Resources
- Website: https://basicattentiontoken.org/
- Whitepaper: https://basicattentiontoken.org/BasicAttentionTokenWhitePaper-4.pdf
- Technical documentation: https://basicattentiontoken.org/index/
- GitHub: https://github.com/brave
- Blog: https://basicattentiontoken.org/blog/
- Twitter: https://twitter.com/attentiontoken?lang=en
- Reddit: https://www.reddit.com/r/BATProject/
- Rocket Chat: https://basicattentiontoken.rocket.chat/